Good evening!
It’s officially the first day of fall!
Here are the 7 things you missed today:
1. 🤝 Nvidia is Investing in OpenAI
Two of the highest-profile leaders in the global artificial intelligence race are teaming up, with chipmaker Nvidia planning on investing up to $100 billion in ChatGPT’s parent company, OpenAI. The first $10 billion of the investment will begin as soon as the two companies reach a definitive agreement for OpenAI to purchase Nvidia chips, and could begin as soon as late 2026. The companies aim to finalize the partnership deal in the coming weeks. (CNN)
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3. 🔮 Oracle Plans on Overseeing TikTok US
The biggest question on everyone’s lips in the wake of the U.S TikTok deal is who the app will be operated and overseen by. Today, it was confirmed that Oracle is taking on the duty, and managing the platform once the deal goes through. If the deal is completed, TikTok will transfer control of the app’s U.S operations (along with a copy of the algorithm) to a new joint venture based in the states. ByteDance will retain a less than 20% stake in TikTok US following the deal. (CNN)
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5. 💍 Oura Ring Maker Raised $875 million in Series E
After its Series E round, Oura Health Oy, the maker of the Oura health and fitness ring, raised an impressive $875 million, putting its valuation at is around $10.9 billion. The round, which is expected to close in the coming weeks, would double the company’s $5 billion valuation from its Series D round last December. Oura is expected to generate over $1 billion in revenue this year. (Tech Crunch)
6. ⚖️ A New Trial Will Inform Us if Amazon Tricked Us Into Joining Prime
The Federal Trade Commission (FTC) filed a lawsuit against Amazon roughly two years ago that’s set to go to trial this week. The lawsuit alleges that Amazon tricked tens of millions of customers into signing up for Prime subscriptions without their consent, then knowingly made the cancellation process difficult. Amazon denies the allegations and insists that customers willingly sign up to take advantage of the deals and value. (Entrepreneur)
7. 💊 Pfizer Acquired Metsera for $7.3 billion
Pfizer is betting big on weight-loss drugs by recently acquiring drug developer Metsera. The pharma giant hasn’t had much luck with its own obesity treatments, and with this deal valued at up to $7.3 billion, it’ll acquire Metsera’s portfolio of four medications for obesity and cardiometabolic diseases. Pfizer is looking to compete with top rivals like Novo Nordisk and Eli Lilly. Metsera’s stock shot up 60% today following the announcement. (Fast Company)
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